Letting Fee for condo

[Konini]

Lease renegotiation time - I would be very grateful if someone could let me know the average fee estate agents charge for finding a new tenant - I've been told 10%, 15% and 20% of the first year's rent (or one or two month's rent). Huge differences in actual amounts with this. I know it about higher prices when going through agents, but the perfect condo just happened to be through an agent.

I just need an idea of how much I'm going to be able to automatically shave off next year before I start trying.

[beau thai]

I think that 1 month for 1 year is the standard finders fee, and pro rata, so 1 week's rent for 3 months -if you consider relatively short term like that.

[onthedarkside]

I think that 1 month for 1 year is the standard finders fee, and pro rata, so 1 week's rent for 3 months -if you consider relatively short term like that.

Yes, one month is the usual commission for a one year rental period, however don't assume it will be pro rated for shorter periods at the same rate. Expect to pay a higher rate.

[Greenside]

A much higher rate proportionally - certainly not pro-rata. No-one will cross the road for a week's rent these days.

[bangmai]

I had a property manager charge me 4% of the lease amount, but then got 10% of the monthly rent to manage the property.

[beau thai]

Have never paid other than pro rata but not rented for less than 3 months. And 5% is standard for management as far as I have experienced.

[giibaht]

I had a property manager charge me 4% of the lease amount, but then got 10% of the monthly rent to manage the property.

What services are covered under property management and what wouldn't be ? May have need in future for such services.

[worgeordie]

Its one months rent,that is the usual fee,and would not pay more,

some of them have the audacity to come back when/if the tenant

renews for another year,expecting to collect another months fees,

they are told politely what to do !

regards worgeordie

[CMweb]

Hi,

we are a rental and managing company. The normal fees are 1 month rent for one year contract, if less then divided by the time. For example 1 month contract for 12000 THB would be 1200 THB commission.

Somebody said nobody goes for one week or two over the street, we do, and we don't charge more!

Most of the condos are owned from investors, so without a agency or the managing company you cannot rent this units.

Check what we have on Buy & Rent Chiang Mai

[bangmai]

Are there only 10 months in a year in Thailand?

[CMweb]

Have never paid other than pro rata but not rented for less than 3 months. And 5% is standard for management as far as I have experienced.

5% is not standard, there are some out there who brake the rules and try to charge more

Some companies charge 5% as they also pay the agents to find a tenant.

Others charge 1 - 4% and split the commission with the agent.

And then are some like us, who don't charge managing fee but to get our money, (we can't work for free) we have take the commission you normally pay to the agent, as we don't need other agents to find a tenant.

The units we manage, we split our commission with other agents if they bring an tenant.

If you pay more then 5% plus the commission, then you get more profit if you live your money in the bank and don't buy properties with it.

[beau thai]

Have never paid other than pro rata but not rented for less than 3 months. And 5% is standard for management as far as I have experienced.

5% is not standard, there are some out there who brake the rules and try to charge more

Some companies charge 5% as they also pay the agents to find a tenant.

Others charge 1 - 4% and split the commission with the agent.

And then are some like us, who don't charge managing fee but to get our money, (we can't work for free) we have take the commission you normally pay to the agent, as we don't need other agents to find a tenant.

The units we manage, we split our commission with other agents if they bring an tenant.

If you pay more then 5% plus the commission, then you get more profit if you live your money in the bank and don't buy properties with it.

Ok, so I want to make sure I understand this and the maths- maybe mine are wrong.

You charge the normal tenant finders fee of 1 month for a 1 year term, and pro rata with no minimum? So for a one week rental you charge a 52nd of one month?

So 100 baht for a 5200 monthly rent? So if the weekly rent is 5200 (equal to 21k a month), you charge 400 baht- and no management fee? Where do you make your money, on the cleaning??

Doesn't seem worth getting out of bed for surely? Or are there other charges for short term lets?

[CMweb]

Have never paid other than pro rata but not rented for less than 3 months. And 5% is standard for management as far as I have experienced.

5% is not standard, there are some out there who brake the rules and try to charge more

Some companies charge 5% as they also pay the agents to find a tenant.

Others charge 1 - 4% and split the commission with the agent.

And then are some like us, who don't charge managing fee but to get our money, (we can't work for free) we have take the commission you normally pay to the agent, as we don't need other agents to find a tenant.

The units we manage, we split our commission with other agents if they bring an tenant.

If you pay more then 5% plus the commission, then you get more profit if you live your money in the bank and don't buy properties with it.

Ok, so I want to make sure I understand this and the maths- maybe mine are wrong.

You charge the normal tenant finders fee of 1 month for a 1 year term, and pro rata with no minimum? So for a one week rental you charge a 52nd of one month?

So 100 baht for a 5200 monthly rent? So if the weekly rent is 5200 (equal to 21k a month), you charge 400 baht- and no management fee? Where do you make your money, on the cleaning??

Doesn't seem worth getting out of bed for surely? Or are there other charges for short term lets?

Not real the right calculation.

If 1 month is 5200 THB we charge 5200 : 12 = 433 THB commission.

But there is no unit for only 5200 THB / month in our program, and we have only one unit for weekly rentals but it is rented out for the next 3 month.

We have 9 units we can rent for minimum 1 month, the cheapest is 9000 THB for 1 month contract. Most of them get rented for 2 - 4 month in ones.

It is always in depend of the owner, some just don't agree and let the units empty for month. The time has changed and you need to be more flexible and not only look after the easy money.

Our priority NR 1 is, to have a happy owner and a happy tenant.

We also explain it on our website Buy & Rent Chiang Mai

[beau thai]

Have never paid other than pro rata but not rented for less than 3 months. And 5% is standard for management as far as I have experienced.

5% is not standard, there are some out there who brake the rules and try to charge more

Some companies charge 5% as they also pay the agents to find a tenant.

Others charge 1 - 4% and split the commission with the agent.

And then are some like us, who don't charge managing fee but to get our money, (we can't work for free) we have take the commission you normally pay to the agent, as we don't need other agents to find a tenant.

The units we manage, we split our commission with other agents if they bring an tenant.

If you pay more then 5% plus the commission, then you get more profit if you live your money in the bank and don't buy properties with it.

Ok, so I want to make sure I understand this and the maths- maybe mine are wrong.

You charge the normal tenant finders fee of 1 month for a 1 year term, and pro rata with no minimum? So for a one week rental you charge a 52nd of one month?

So 100 baht for a 5200 monthly rent? So if the weekly rent is 5200 (equal to 21k a month), you charge 400 baht- and no management fee? Where do you make your money, on the cleaning??

Doesn't seem worth getting out of bed for surely? Or are there other charges for short term lets?

Not real the right calculation.

If 1 month is 5200 THB we charge 5200 : 12 = 433 THB commission.

But there is no unit for only 5200 THB / month in our program, and we have only one unit for weekly rentals but it is rented out for the next 3 month.

We have 9 units we can rent for minimum 1 month, the cheapest is 9000 THB for 1 month contract. Most of them get rented for 2 - 4 month in ones.

It is always in depend of the owner, some just don't agree and let the units empty for month. The time has changed and you need to be more flexible and not only look after the easy money.

Our priority NR 1 is, to have a happy owner and a happy tenant.

We also explain it on our website Buy & Rent Chiang Mai

Sure, great to have happy owner and happy tenant!

Explanation on your site for investors is cursory-unless I failed to navigate the site. But seems your charges are very low for short rentals from what you say above and as you suggest, the important thing is to keep them rented through being flexible..